Selected Items from the Payroll Register Are Compared to Employee

question 45

Multiple Choice

Selected items from the payroll register are compared to employee time-cards that have been approved by supervisory personnel.Which of the following assertions for payroll expense does this test?

• A)Occurrence.
• B)Completeness.
• C)Accuracy.
• D)Cut-off.

---

Definitions:

Financial Statements

Documents that provide an overview of a company's financial performance and condition, including balance sheet, income statement, and cash flow statement.

Financial Statements

Written records that convey the business activities and the financial performance of a company, typically including the balance sheet, income statement, and cash flow statement.

Benchmark Information

Benchmark information refers to a standard or point of reference against which things may be compared or assessed, often used in financial contexts to measure the performance of investments or portfolios.

Cash Flows

The total financial inflow and outflow within an organization, essentially influencing its short-term financial solvency.